How To Buy Your Very first Bitcoin Or Ethereum, HuffPost

What a difference a duo years can make! Spil I wrote here recently, some of my media colleagues ter 2014 wished to hear nothing about Bitcoin or cryptocurrency and I wasgoed effectively shunned from some of the shows I’d gotten used to guesting on.

Today? Not a day goes by that someone isn’t emailing mij or DMing mij on Twitter, despairingly asking how to buy Bitcoin. How to get ter. How to store it. You know, the beginner questions.

Man, it truly got mij down for a while – being told I wasgoed promoting something bad and trivial, when I knew ter my heart (and the math clearly corroborated) that cryptocurrency is not bad, is not trivial, is not a fad – it’s a very big emerging idea. One of those big ideas that could switch everything ter the years ahead. Bitcoin is a big overeenkomst.

When friends ask mij how to buy Bitcoin, I usually just rechtstreeks them to my friend invite pagina on Coinbase so they get some free Bitcoin spil a verzekeringspremie. Coinbase has more than Four.1 million customers ter 32 supported countries. They’re US-based, backed by some tech heavyweights including Marc Andreessen’s VC fund, and te the duo of instances where I’ve had trouble, their support wasgoed always swift and cleared things up.

Ethereum has skyrocketed ter name recognition and usage since it launched a year ago, but it is still collectively only worth less than one tenth of Bitcoin’s market cap – spil I opstopping this, Bitcoin is worth $Ten.41 billion, while secondplace cryptocurrency network Ethereum is worth $972 million.

The currency used within Ethereum, Ether (ETH), is mined and traded much like bitcoins are. Ether can be bought on Coinbase by going to exchange.coinbase.com after you’re logged into your account: that pagina lets you trade Bitcoin te your Coinbase account for Ether (you can also deposit fiat currencies there), or trade your Ether back into Bitcoin. If that’s too confusing, it has bot reported that Coinbase will be adding an Ether meteen buy feature to their verhoging zometeen this month, making it lighter for non-pro cryptocurrency users to get hold of the currency.

HOW DO I STORE MY BITCOINS AND ETHERS?

A number of excellent options here. Some users choose to store their Bitcoins on a hardware wallet, such spil the Bitcoin Trezor from Satoshi Labs (Trezor’s team are reportedly working on hardware wallet support for Ether, too).

Another popular option for storing, sending, and receiving Bitcoins is the free Electrum wallet software for Mac, Windows, and Linux. (An Android version of Electrum is now also available.)

What about for Ether? At the uur, the official wallet / browser Waas is a popular option for the desktop, while the Jaxx.io smartphone wallet app for Android and iPhone is becoming popular among Ethereum casual users spil well. The snappy Jaxx mobile wallet also works with Bitcoin.

It’s okay. Cryptocurrency is a fresh and titillating field when you very first look into it – even several years into researching the industry, I learn fresh things every day.

While it’s true that cryptocurrency markets can be very volatile, and less forgiving, than traditional fiat currency markets – it’s also true that crypto is incredible to be a part of ter thesis early years. Even with the volatility and uncertainty, there’s something very efficient and fair about cryptocurrency.

The source code for Bitcoin and Ethereum is out te the open: experts review and add to it permanently.

Millions of people already use digital currencies including Bitcoin and Ether. Albeit it’s a courageous fresh world, many of us are taking the leap and building this fresh economy out – not only because it benefits us more than the fiat economies wij have no control overheen, but because it is truly joy.

When you buy your very first Bitcoin, you join this strange club. Where this all goes te the end, no one can tell with certainty yet. But te the meantime, you can go after my musings overheen on Twitter and see my weekly interviews with leading cryptocurrency experts overheen on the YouTube channel.

Total disclosure: Not financial advice, provided for educational purposes only. Not intended spil a recommendation to buy or sell any cryptocurrency or asset. At time of publication, I do hold some bitcoins and ethers ter my long term portfolio.

Related movie: How To Choose a GPU for Mining


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